Estate Planning And Elder Law

Planning for the future is an important step for all Michigan families, but it may be especially important for non-traditional or blended families. Having documents drafted and plans in place can help prevent difficult or complicated situations, and it can provide you...

Note:  Our firm is dedicated to helping families protect their hard earned wealth regardless of size – We provide basic estate planning for families with modest savings and advanced planning for those with substantial wealth. 1. Wealth Protection.  Do you have any rental real estate that is in your individual name or an S corporation?  Do you have a single member LLC?  This…

We have heard from many of our clients that the current COVID-19 crisis has spurred them to reflect and rethink their priorities. These are some simple steps that you can take make sure your estate plan is up to date. PUT ESTATE PLANNING ON YOUR TO-DO LIST If you have been putting off getting your Will and Durable Powers of…

All estate plans share one fundamental goal: create a secure plan that puts beneficiaries in the best possible position. Irrevocable life insurance trusts, known as ILITs, further this goal by protecting your life insurance from the hands of creditors during your lifetime, exempting it from your estate, and reducing your potential estate tax liability. ILITs have many benefits, and very…

One important element of the estate planning process in Michigan involves recognizing those opportunities where one can limit the liabilities facing their estates. Most assume, however, that taxes are one expense they cannot avoid. Yet that may not be the case. First and foremost, Michigan does impose a local estate tax on its residents. This means that there may be…

Setting up an appointment with an estate planner is a great first step to take when creating an estate plan, but what comes next? The legal industry can be confusing, and it’s hard to know how to prepare for your appointment. While your attorney should be available to answer any questions you have, it never hurts to prepare on your…

Setting up a power of attorney (”POA”) is very useful if you anticipate being incapacitated or unable to manage decisions in the future. It’s also a good idea to set up a power of attorney even if you don’t expect anything preventing your decision making abilities in the future. Life is uncertain and you never know what might happen, so,…

As more pieces of our lives move online, new questions present themselves as we become incapacitated or walk on. Have you given any thought to who gets your digital music library? Or, if you do all of your banking online, will your guardian/conservator be able to access those accounts and records to take over paying your bills? The Fiduciary Access…

As the baby boomer generation ages, there is an increase in people who do not have a spouse or children who will take care of them in their old age. There are increased risks for a person to become diagnosed with Alzheimer’s, dementia, and other disabilities that diminish a person’s ability to care for themselves. Not everyone has someone to…